Study Shows Americans Support Federal Bailout of Auto Industry

Summary

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"Americans' broad support for providing government assistance to the auto industry is built mainly on a genuine fear that a failed GM, Ford and Chrysler could lead to a depression," said Peter Hart, chairman of the national polling firm. "But their support is grounded in the hope that a revitalized auto industry could mean good things for the manufacturing sector and the country as a whole."

"The public sees in stark terms the harm it would do to the country if the domestic auto industry no longer had the resources to produce vehicles," Hart said. "It is recognition that it is the country's central manufacturing base."

Some other key findings of the study including the nearly catastrophic effects a shutdown of the automotive industry would have are: ***90 percent fear the harm it would do to America's manufacturing sector ***84 percent of Americans said it would harm the U.S. economy ***79 percent fear the harm it would do to America's standing in the world ***68 percent worry about the lack of consumer choice for America's car buyers Earlier this month, GM announced that it suffered a net loss of $2.5 billion in its third quarter - one of the single worst net losses in its history.

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Study Shows Americans Support Federal Bailout of Auto Industry

A recent study by a Washington D.C.-based think tank shows that most Americans believe the U.S. government should come to the financial rescue of...

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